How many of us had any idea one year ago what 2022 would bring our way?
There were exciting and encouraging developments in medtech innovation, big challenges from supply chain and labor shortages, and spin-offs, purchases and partnerships among the biggest names in the industry.
As we venture into 2023, let’s take a look at Medical Design & Outsourcing‘s top stories of 2022, based primarily on reader engagement at our website, via our email newsletters and on our LinkedIn page:
1. The 2022 Medtech Big 100: The world’s largest medical device companies
Medtech businesses spinning off as stand-alone companies created some new names on our 2022 Medtech Big 100 ranking of the world’s largest medical device companies. The largest medical device companies are still Medtronic, Johnson & Johnson MedTech (which rebranded from Johnson & Johnson Medical Devices) and Siemens Healthineers, but our latest ranking also includes newly formed entities such as Enovis and ZimVie.
2. The 24 best medical device innovations of 2022
3. What is pulsed-field ablation? Here’s what you need to know
Pulsed-field ablation is a non-thermal method for cardiac ablation that has the potential to positively disrupt the way atrial fibrillation (AFib) is treated. Top experts at Boston Scientific, Medtronic and Acutus Medical shared their insights about pulsed-field ablation’s potential at DeviceTalks Boston.
4. Johnson & Johnson Medical Devices drops ‘medical devices’ in rebranding
Switching the name of the Johnson & Johnson Medical Devices business to Johnson & Johnson MedTech might seem like a small change, but it was big news. As EVP and Executive Chair Ashley McEvoy explained, the new identity signaled a shift from focusing on devices to broader innovations such as cloud connectivity. And it’s not just J&J; Medtronic CEO Geoff Martha has said he wants to harness new advances to put “the tech in medtech.”
5. Employees say Intuitive, Boston Scientific, J&J, Medtronic are among the best places to work in 2022
The medtech industry’s growth — with the Big 100 posting record-high sales and climbing employee counts and R&D budgets — collided with a global labor shortage to offer in-demand talent more opportunities to choose where to work.
6. Why Affera’s cardiac ablation technology is worth $1B to Medtronic
Affera’s system diagnoses, maps and treats heart arrhythmias with ablation, explained founder and CEO Doron Harlev in an interview after Medtronic closed the deal. He was joined by Rebecca Seidel, president of Medtronic’s Cardiac Ablation Solutions business, as they discussed how Affera’s devices work, the challenges to develop them and what’s next for the technology.
7. Medtronic’s M&A strategy explained by CFO Karen Parkhill
Medical Design & Outsourcing kicked off 2022 with a cover story interview of Medtronic CFO Karen Parkhill, who discussed leadership, innovation and restructuring the largest organization in medtech. We didn’t have room for everything in print, so we ran Parkhill’s commentary about Medtronic’s M&A strategy as an online extra.
8. Ten medical device startups you need to know
Some of the most interesting medical device startups of 2022 are advancing a wide range of innovative medtech: robotics, catheter-delivered brain-computer interfaces and more. Companies like CMR Surgical, Endiatx and Moon Surgical have been making news since we posted our list — take a look to learn more about all ten of the startups.
9. ‘Catastrophic explosion’ and resin shortage led Medtronic’s supply chain problems
Medtronic CEO Geoff Martha blamed supply chain issues for the majority of the company’s $350 million miss in its fourth quarter. Shortages of semiconductors, resins and packaging were particularly troublesome. Those issues plagued many others in the medical device industry, with chips and resin still in high demand at the start of 2023.
10. What is nitinol and where is it used?
Nitinol is a metal alloy of nickel and titanium with unique properties for medical applications, including superelasticity or pseudoelasticity and “shape memory.” That means nitinol can remember its original shape and return to it when heated.
More of Medical Design & Outsourcing‘s top stories of 2022:
- DOJ subpoenas Philips over Respironics recall; CEO addresses investigation
- Paralyzed patients walk, swim and cycle with spinal cord neuromodulation implant
- Endiatx’s pill-sized robot sees and swims inside the stomach
- Medtronic releases new renal denervation results, closes trial enrollment
- Integer Holdings makes additions to its executive team
- FDA and VA Ventures Innovation Institute partner on new medical device testing tools
- Massachusetts IP lawyer wins honors for patent strategy
- Ultrasonically welded flow sensor critical to success of Hamilton Medical ventilator design
- These 14 medical device inventions are the best, Time magazine says
- How much time and money does it take for FDA 510(k) clearance versus De Novo classification?
- 18 of the world’s most innovative medical technologies
- Long COVID study finds potential in hyperbaric oxygen therapy
- Jury awards $363M verdict in Sterigenics ethylene oxide lawsuit
- The cloud is transforming medtech: Amazon, Microsoft, Google, J&J, Philips and GE Healthcare leaders explain
- Zimmer Biomet narrowly avoids shareholder rebuke on executive pay
- Medtronic’s VC leader discusses risk, returns, strategy and an ‘ugly truth’
- Synchron says study shows safety of its brain-computer interface implant
- Johnson & Johnson leaders discuss what’s possible with the Microsoft cloud deal
- Hugo feedback is positive as Medtronic looks to scale production of surgical robot
- Medline Industries revenue up nearly 15% in 2021
- Toray develops new stretchable film for medical devices
- How medical device companies are responding to abortion bans
- Johnson & Johnson and Microsoft partner up on digital surgery
- Stryker CEO Lobo talks success of Wright Medical merger, increasing competitiveness of surgical robotics
- 3M Health Care Business president is leaving this year
- FDA proposes new cybersecurity, supply chain and inspection laws for medical device manufacturers
- FDA warns of potential toxic risk from Fresenius hemodialysis machines